ONTARIO, Calif. — Along with an alliance with a Utah-based
subprime finance company, CU Direct Corp. recently finalized new partnership
agreements with nine credit unions.

As a result of the agreements, officials highlighted the
credit unions will be incorporating products from CU Direct's suite of auto
lending solutions to drive loan growth, business efficiency and improved member
satisfaction.

Currently, more than 1,060 credit unions nationwide serving
34 million members are utilizing the CUSO's lending solutions.

The new partner credit unions include:

—SchoolsFirst Federal Credit Union with 577,568 members and
$9.7 billion in assets that's based in Santa Ana, Calif.

—ENT Federal Credit Union with 224,488 members and $3.8
billion in assets that's based in Colorado Springs, Colo.

—NASA Federal Credit Union with 87,219 members and $1.2
billion in assets that's based in Upper Marlboro, Md.

—St. Mary's Bank Credit Union with 85,063 members, $0.8
billion in assets that's based in Manchester, N.H.

—Merrimack Valley Federal Credit Union with 44,319 members
and $0.5 billion in assets that's based in Lawrence, Mass.

—121 Financial Credit Union with 37,680 members and $0.4
billion in assets that's based in Jacksonville, Fla.

—Resource One Federal Credit Union with 46,225 members and
$0.4 billion in assets that's based in Dallas

—Linn Area Credit Union with 24,224 members and $0.3 billion
in assets that's based in Cedar Rapids, Iowa

—Rhode Island Credit Union with 24,674 members and $0.3
billion in assets that's based in Providence, R.I.

CUSO has signed new partnership agreements with 80 credit
unions thus far this year.

Officials pointed out CU Direct partner credit unions collectively
have experienced 16 percent auto loan growth in 2013. As a result, CU Direct
partner credit unions, as an aggregate, are the fifth largest auto lender in
the nation.

Credit unions have funded 545,000 loans through CU Direct's
CUDL System thus far in 2013, totaling $12.2 billion in vehicle financing.

"The CU Direct team looks forward to partnering with these
new credit unions and working together to define their auto lending strategy,
increase efficiencies, and grow their auto loan volume using CU Direct's
line-up of innovative lending solutions and services," said Tony Boutelle,
president and chief executive officer of CU Direct.

Furthermore, New Start Financial executive Sam Russell said
in a message to SubPrime Auto Finance News that the company recently launched
through CUDL as the only subprime lender on the platform in Utah.

Back in July, New Start Financial launched a subprime auto
financing program to all independent and franchised dealers throughout Utah.

Previously, NSF was only available at two select independent
dealerships. But a merger with, Russell, owner and operator of the Automatic
Car Credit dealerships, and Vance Harrison of Harrison Imports, gave NSF the
management team and an infusion of capital to offer aggressive and unique
financing platform statewide.

The company explained NSF will focus on building long term
relationships with its dealer partners while providing them with an aggressive
finance solution for customers with poor credit or that don't conform to
traditional bank or credit union guidelines.

For more details, call New Start Financial at (801)
589-9501.

Continue the conversation with SubPrime Auto Finance News on LinkedIn and Twitter.

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